Company PAN Card

PAN allows the department to link all transactions of the “person” with the
department. These transactions embody tax payments, TDS/TCS credits, returns of
income/wealth/gift/FBT, PAN,
thus, acts as Associate in Nursing symbol for the “person” with the tax department.

Act

It is obligatory to quote PAN on come of financial gain

income tax authority. From one Jan 2005 it'll be obligatory to quote PAN on

challans for any payments thanks to taxation Department.

It is additionally mandatory to quote PAN all told documents touching on the subsequent

financial transactions :-

It is obligatory to quote PAN on come of financial gain, all correspondence with any
income tax authority. From one Jan 2005 it'll be obligatory to quote PAN on
challans for any payments thanks to taxation Department.
It is additionally mandatory to quote PAN all told documents touching on the subsequent
financial transactions :-
(a) sale or purchase of any unmovable property valued at 5 100000 rupees or more;
(b) sale or purchase of a motorcar or vehicle, [the sale or purchase of a motor
vehicle or vehicle doesn't embrace 2 wheeled vehicles, comprehensive of any clastic
side-car having an additional wheel, connected to the motor vehicle;]
(c) a certificate of deposit, surpassing fifty thousand rupees, with a financial organisation ;
(d) a deposit, surpassing fifty thousand rupees, in any account with Post workplace
Savings Bank;
(e) a contract of a worth surpassing one 100000 rupees purchasable or purchase of securities;

Permanent Account Number (PAN) is a ten-digit alphanumeric number, problem in the
form of a laminated card, by the Income Tax Department, to any “person” who
applies for it or to whom the department allots the number without an application.